Diamond Hill Capital Management LLC Investment Advisor Makes New $133.41 Million Investment in L3Harris Technologies Inc $LHX

Key Points

• Diamond Hill Capital Management initiated a $133.4 million position in L3Harris Technologies, acquiring 459,115 shares, while institutional investors collectively own 84.76% of the company.
• L3Harris exceeded quarterly expectations, reporting $3.13 in EPS versus the $2.80 consensus and $5.88 billion in revenue, up 8.4% year over year. The company reaffirmed fiscal 2026 EPS guidance of $11.80–$12.00.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $365, compared with the stock’s recent price of $291.62. L3Harris also declared a $1.25 quarterly dividend, equal to a 1.7% annual yield.

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 459,115 shares of the company's stock, valued at approximately $133,414,000. Diamond Hill Capital Management LLC Investment Advisor owned approximately 0.25% of L3Harris Technologies at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company's stock valued at $6,872,710,000 after purchasing an additional 190,955 shares during the last quarter. Capital World Investors grew its position in L3Harris Technologies by 2.9% in the fourth quarter. Capital World Investors now owns 11,645,419 shares of the company's stock worth $3,418,747,000 after buying an additional 329,910 shares during the last quarter. State Street Corp increased its holdings in shares of L3Harris Technologies by 1.6% in the fourth quarter. State Street Corp now owns 8,919,368 shares of the company's stock valued at $2,618,459,000 after buying an additional 141,442 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock valued at $1,505,444,000 after acquiring an additional 106,430 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of L3Harris Technologies by 3.9% during the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company's stock valued at $974,072,000 after acquiring an additional 124,797 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $291.62 on Monday. The company has a market capitalization of $54.30 billion, a price-to-earnings ratio of 29.46, a P/E/G ratio of 1.10 and a beta of 0.51. L3Harris Technologies Inc has a 1-year low of $262.68 and a 1-year high of $379.23. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The stock's fifty day simple moving average is $292.85 and its 200-day simple moving average is $323.26.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The firm had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the prior year, the business earned $2.78 EPS. The business's revenue for the quarter was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. On average, sell-side analysts predict that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies's dividend payout ratio is currently 50.51%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Susquehanna decreased their target price on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a report on Friday, July 31st. Sanford C. Bernstein reduced their target price on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. BNP Paribas Exane decreased their price target on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Finally, UBS Group cut their price objective on L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $365.00.

L3Harris Technologies Profile

L3Harris Technologies NYSE: LHX is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company's offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.

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